A consortium led by A Capital, a private equity firm backed by Chinese and Belgian sovereign funds CIC and SFPI, has acquired a portfolio of 10 hotels in Germany from DHM group for an undisclosed amount.
A consortium led by A Capital, a private equity firm backed by Chinese and Belgian sovereign funds CIC and SFPI, has acquired a portfolio of 10 hotels in Germany from DHM group for an undisclosed amount.
A Capital, which is based in Beijing and Brussels, has joined forces with Starwood's French hotel unit Louvre Hotels to make its first foray in Germany with the purchase of the assets which offer a total of 1,246 rooms and are operated under the Balladins brand.
The package consists of five three-star and five four-star hotels in gateway cities of Western Germany (Frankfurt, Dortmund, Bremen, Mannheim, Bad Bramstadt, Braunschweig, Offenburg, Peine, Sindelfingen and Troisdorf).
A Capital said it plans to renovate the assets and rebrand them under the Tulip Inn and Golden Tulip brands. They will be operated by Louvre Hotels Group.
Law firm CMS advised on the deal.
